All Treasury articles
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PodcastsPodcast: Treasury ‘ignored advice’ in public sector pension reforms
Podcast: A report from the Public Accounts Committee about the public sector pensions reform has showed that Treasury ignored advice that could have prevented the McCloud case, argues Ian Neale, co-founder of Aries Insight. He is joined by Sackers partner Claire Carey, in an episode also covering industry consultation fatigue and the new Task Force on Climate-related Financial Disclosures reporting requirements.
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NewsIndustry warns against Treasury ‘tax raid’
Experts from across the pensions industry have warned against a rumoured “tax raid” in the autumn budget.
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NewsTreasury slammed for McCloud errors, but members will foot the bill
The Public Accounts Committee has issued a scathing report highlighting HM Treasury’s failure to predict the numerous problems stemming from 2011-15 public sector reforms, warning its mistakes will take “generations” to resolve.
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NewsGovernment creates working group for green taxonomy
On the go: The government has created a new independent expert group that will advise on standards for green investment and help create a green taxonomy in the UK.
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NewsBMA calls for doctors to be exempt from pension age hike
On the go: The British Medical Association has called for NHS workers to be exempt from proposals to increase the minimum pension age to 57, saying the complex nature of pensions taxation means many need to retire before this age.
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NewsLow earners miss out on £150m in pensions tax relief
On the go: Low earners have missed out on almost £150m in pensions tax relief, according to new analysis from Quilter.
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NewsTreasury committee calls for ESG regulations for smaller schemes
On the go: The Treasury committee published on Thursday a unanimously agreed report as part of its decarbonisation and green finance inquiry, which calls for environmental, social and governance regulations for smaller schemes.
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Calls for government to review minimum pension age hike
On the go: Wealth manager Quilter has called on the government to reverse proposals to raise the normal minimum pension age to 57, saying the move is complex and will do little for people’s retirements.
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Government to review DB consolidators taxation regime
On the go: The government is to review the taxation framework for defined benefit consolidators, which will occur alongside the work being done by the regulator in this area.
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Govt to clear up 'scheme pays' issues in McCloud remedy
On the go: The government will amend pension tax rules to make it easier for those who incur annual allowance charges as part of McCloud remedies to pay these through the pension schemes.
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Govt chooses full indexation of GMPs for public sector schemes
The Treasury has decided to abandon the idea of converting guaranteed minimum pension benefits in public sector schemes, opting for a permanent extension of full indexation, which will be more expensive for private pension funds that are forced to mirror government rules.
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Nest invests £250m in green energy
On the go: Master trust Nest has partnered with Octopus Renewables to invest £250m in green energy in UK and Europe.
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Switch to index-linked gilts could boost DB pensions and save billions
On the go: A rebalancing by the government from fixed interest to index-linked gilts could provide additional security for pension schemes and their members while saving taxpayers billions, according to analysis by LCP partner Jonathan Camfield.
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OpinionLifetime allowance freeze reopens debate on its relevance
Broadstone technical director David Brooks analyses the pension announcements made by chancellor Rishi Sunak in the Budget, and questions what is the purpose of the lifetime allowance.
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PodcastsPodcast: Budget 2021 - ‘Reckless conservatism’ in DB landscape
Podcast: Wednesday’s budget did not go far enough to counter the “reckless conservatism” in the defined benefit landscape when it comes to risk and growth assets, hampering the government’s drive to unleash pensions on the post-pandemic recovery, according to Conservative party peer baroness Ros Altmann. She is joined by Isio partner Mike Smedley, in a discussion that also includes the lifetime allowance freeze and what was missing from the chancellor’s statement.
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Budget 2021: Lifetime allowance frozen until 2026
On the go: The pensions lifetime allowance will be frozen at just more than £1m until April 2026, chancellor Rishi Sunak announced on Wednesday.
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Budget 2021: Govt announces investment pension rules reform
On the go: The government will be launching a consultation aimed at supporting the UK economy with pension assets post-Covid, the chancellor announced on Wednesday
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Chancellor ponders lifetime allowance 'stealth tax'
On the go: Chancellor Rishi Sunak was reportedly planning to freeze the lifetime allowance for the rest of the current parliament, according to a report in the Times — a move that could see public sector workers hit hard.
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Judges to face immediate choice in McCloud solution
On the go: Members of the Judicial Pension Scheme will be subject to an immediate choice in 2022 in response to McCloud, in contrast to the rest of the public sector’s deferred choice underpin.
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Government reverses course on public sector exit payments
On the go: The government has announced it is to disapply the restriction on public sector exit payments that came into force in November.